Owner occupiers outweigh investors, however new apartment sales drop and approvals continue to decline.
Apartments present a much-needed affordable option into the housing mix, but market factors continue to impact upon the delivery of housing in the inner city and middle ring. Urbis’ latest Apartment Essentials report, Australia’s most comprehensive new apartment survey, unpacks the 2018 market activity.
Urbis analysed 230 sales from a sample of 48 projects, comprising almost 10,000 apartments in Melbourne in quarter four 2018. Coupled with detailed analysis of 1,140 sales across the year, Urbis Apartment Essentials has sampled between 15 to 20% of new apartment projects in the city in each quarter.